Dec 28, 2012 7:00pm EST
has just passed a $60 billion aid bill for communities slammed by super storm sandy. that vote was 61 for, 33 against. sandy road ashore devastating several areas and the senate rejected a republican amendment to cut the immediate cost to just 23 million clearing the way for final action on the $60 billion bill. the bill now goes to the house where its passage is uncertain because of the non-sandy-related spending items that are in the bill. typical sausage making for washington. >>> let's get to our panel. here now is blake zeff, former obama campaign aide and washington editor. robert, have you heard anything in the last couple of hours that suggests to you that somehow by monday mitch mcconnell and harry reid will sing kumbaya, pass something in the senate that also passes the house? >> i'm not so sure they'll be sing kumbaya, but the real story today is that there's movement on capitol hill. reid and mcconnell come out of that white house meeting and they're ready to haggle over some differences. what i expect to come to the floor is what president obama's talking about a 250 thre
Nov 30, 2012 7:00pm EST
. could have something to do with superstorm sandy. weak in yesterday's third quarter gdp report. profits, and these are the broadest gdp profits, covering about 5 million large and small companies really came in pretty good in the third quarter. up 9% from a year ago. so even though business looks weak, good profits could be the backbone of the stock market despite the hysteria of the fiscal cliff. let's talk to don -- for all th hysteria, profits are rising, the economy has got pluses and minuses. i'm not sure people need to pay all that attention to the fiscal cliff. >> well, if you look at what the global stock markets are doing, they suggest that our market would be doing significantly better were it not for the fiscal cliff. now profits have been good. i think people are getting used to the idea they trust corporate ceos more than they trust those that print government bonds that aren't really worth as much by the time they mature. they're also seeing a yield compression around the world. if you look at corporate beyond yields, they're about half of where they were just a year ago.